Wealthy hospitals have a cushion to weather coronavirus crisis that safety-net facilities don’t

Cancellations of nonessential surgeries come with the coronavirus patients


Inova Health System, located  in some of the wealthiest suburbs of Washington, D.C., and Truman Medical Centers, a safety-net hospital in downtown Kansas City, Missouri, are confronting the same financial issues, according to an article on the Kaiser Health News website.

But Truman has less than a month’s worth of cash reserves  while Inova has enough money to operate for at least 21 months.

“At the end of the day, not all hospitals are created equal,” Charlie Shields, Truman’s president and CEO, said in the article. “If you were sitting on a year of … cash on hand, that would not be as challenging, but most safety-net hospitals are south of 25 days, and we’re probably around 10. How do you manage through that?”

However,  Dr. J. Stephen Jones, Inova’s president and CEO, said, “Our finances are a mess at this point,” with the system postponing non-urgent treatments and eliminating 427 administration and management positions. “This is an existential threat to every health care organization, no matter how strong they come into it,” said Jones, who cut his own salary by 25%.

Read the article.



May 14, 2020


Topic Area: Maintenance and Operations


Recent Posts

Disinfectant Contact Time: The Case for Biofilm Disruption

Contact time, while essential for compliance, does not reliably predict microbial reduction on actual healthcare surfaces.


Texas HHSC Reaches Construction Milestone for Panhandle State Hospital in Amarillo

Construction is expected to be completed in fall 2027.


Mon General Succumbs to Phishing Cyberattack

Its investigation ultimately determined that an unauthorized party gained access to certain Mon General email mailboxes on May 6, 2026.


The HVAC Dilemma: To Repair or Replace?

Healthcare facilities that keep repairing and optimizing aging systems past their useful life spend money on a problem they cannot solve without capital investment.


Department of Veterans Affairs Signs Lease for Community-Based Outpatient Clinic in Kentucky

Construction and facility preparation are expected to be completed by the winter of 2027, and the first patient should be seen by spring 2028.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

 
 
 
 

Healthcare Facilities Today membership includes free email newsletters from our facility-industry brands.

Facebook   Twitter   LinkedIn   Posts

Copyright © 2023 TradePress. All rights reserved.